Oil & Gas Q2FY22 income preview by admin- Thursday, October 7th, 2021 04:00:56 PM
In Q2FY22, we anticipate earnings of CGD agencies (IGL/MGL) and gas utilities to upward thrust strongly on y-o-y foundation led by way of a quantity recuperation. High spot LNG costs could benefit GAIL’s gas advertising enterprise and effect Gujarat Gas’s margin offsetting benefit of extent increase.
OMCs’ income are probably to be a blended bag as recuperation in refining & advertising margins might be offset by means of decrease stock gains and petchem margins. Rise in crude oil charges and decrease running prices bode nicely for y-o-y profits increase of ONGC/Oil India.
We preserve a optimistic stance on CGD players given robust quantity led income growth visibility and high RoEs. OMCs’ center earnings could improve led with the aid of a healing in GRMs & BPCL privatisation key to re-score of OMCs.